Hi Everybody,
I have said this before, but please don’t forget the 5min Charts, as there are some great setups on these, for example the lovely TS3 buy on the 5min YM on Friday (there was also a TS4 buy on the 5min ES at the same time).
As you can see, the YM then rallied off this low to reach the first projected profit target for a nice +3R Profit (ignoring slippage and commission). We used the WPT target as the STF was weak.
So the lesson here, is even if you mainly follow the 3min Charts, don’t forget the 5min ones as 5min chart very often give you some nice tradable setups :-)
Thanks
Steve
I have said this before, but please don’t forget the 5min Charts, as there are some great setups on these, for example the lovely TS3 buy on the 5min YM on Friday (there was also a TS4 buy on the 5min ES at the same time).
As you can see, the YM then rallied off this low to reach the first projected profit target for a nice +3R Profit (ignoring slippage and commission). We used the WPT target as the STF was weak.
So the lesson here, is even if you mainly follow the 3min Charts, don’t forget the 5min ones as 5min chart very often give you some nice tradable setups :-)
Thanks
Steve
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